Some good - and some bad reasons. Americans spent less, and Obama did raise taxes for 2% while lowering it for many.
Federal, state and local taxes—including income, property, sales and other taxes—consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8% of income before rising slightly in the first three months of 2010.
The reasons, the article suggests, are the tax cuts that were included as part of the economic stimulus passed in February 2009, a shifting of the tax burden toward the wealthy, and a decrease in sales tax paid as many Americans slashed their consumption.
USA Today
